The organization should identify sources of risk, areas of impacts, events (including changes in circumstances) and their causes and their potential consequences.
The aim of this step is to generate a comprehensive list of risks based on those events that might create, enhance, prevent, degrade, accelerate or delay the achievement of objectives.
It is important to identify the risks associated with not pursuing an opportunity.
Comprehensive identification is critical, because a risk that is not identified at this stage will not be included in further analysis.
Identification should include risks whether or not their source is under the control of the organization, even though the risk source or cause may not be evident.
Risk identification should include the examination of the knock-on effects of particular consequences, including cascade and cumulative effects.
It should also consider a wide range of consequences even if the risk source or cause may not be evident.
As well as identifying what might happen, it is necessary to consider possible causes and scenarios that show what consequences can occur.
All significant causes and consequences should be considered.
The organization should apply risk identification tools and techniques that are suited to its objectives and capabilities, and to the risks faced.
Relevant and up-to-date information is important in identifying risks.
This should include appropriate background information where possible.
People with appropriate knowledge should be involved in identifying risks.
To test this within your business, select 1 traveller and 1 trip.
Now demonstrate all the above, as it applies to that specific traveller and that specific journey.
Now apply it to 10 travellers and 10 business trips.
Is the risk identification, clear, documented, unique and specific to each traveller and trip?
If not, you don’t have adequate evidence to demonstrate travel risk management, in addition to having an inadequate system for risk identification.
To learn more about business travel risk management and your obligations,
Visit www.isitsafe.travel .
Next, in this series on travel risk management, we examine risk evaluation, step 4 of 7 required for travel risk management.
Safe work systems and enterprise risk management, inclusive of business mobility and travel.